Country-Club Chic

Muffy would be pleased. Thanks to the return of crayon-color hues in the latest fashions, the casual look of America's prep-school set is chic again. Standard-bearers of the style like Lacoste, maker of the alligator-adorned polo shirt, and Sebago, of Docksides fame, have relaunched their hallmark items with a modern flavor. Retailers like Urban Outfitters, which rode the grunge wave in the past decade, are stocking up on such preppy classics as candy-color ribbon belts and wood-handled Bermuda bags. Isaac Mizrahi showed preppy-inspired outfits, pictured right, from his latest collection last month in New York City—available in the U.S. at Target...